Seven-Unit Multifamily Income
For Sale
$2,499,000
10675 Royal Palm Boulevard 1-7, Coral Springs, FL 33065
Seven-unit multifamily with private patios or balconies and in-unit washer and dryer in each unit.
Property Size8,407 SF
Lot Size0.50 Acres
Price / SF$297.25
Days on Market51
Property Features for 10675 Royal Palm Boulevard 1-7
General Information
Standard status
Active
Size
8,407 SF
Lot size
0.50 Acres
Property subtype
Multi Family
Additional Details
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$44,629
Building Details
Building Size
8,407 SF
Year Built
1987
Listing Agency:
Fidelity Real Estate Group LLC
(954) 234-7653
Listed By:
Carlos A Montoya · License #0623048
(954) 234-7653
Source:
Pamandtoni
Added: Jul 10
Changed: Aug 24
Last Checked: Aug 28 at 4:17PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fidelity Real Estate Group LLC
Investment Insights
Based on property information with market context.
This for-sale multifamily property features seven units in a mix of one spacious 3-bedroom, 2.5-bath townhome, four 3-bedroom, 2-bath units, and two 2-bedroom, 2-bath units. Each unit includes a washer and dryer, along with a private patio or balcony. Units also have separate electric meters, supporting more individualized utility billing.
The property is located on a corner lot in Coral Springs and totals nearly half an acre. The remarks indicate current rents are well below market, presenting upside potential.
Financial projections provided with the offering estimate projected annual gross income of $240,000 and total estimated annual expenses of $68,389. The estimated expenses include landscaping ($4,800), insurance ($12,000), water ($5,400), and electric ($1,560). All information is believed to be accurate but is not guaranteed.
The property is located on a corner lot in Coral Springs and totals nearly half an acre. The remarks indicate current rents are well below market, presenting upside potential.
Financial projections provided with the offering estimate projected annual gross income of $240,000 and total estimated annual expenses of $68,389. The estimated expenses include landscaping ($4,800), insurance ($12,000), water ($5,400), and electric ($1,560). All information is believed to be accurate but is not guaranteed.
Key Highlights
- 7‑unit multifamily built in 1987 in Coral Springs, on nearly half an acre corner lot
- Unit mix: one 3BD/2.5BA townhome, four 3BD/2BA units, and two 2BD/2BA units
- Each unit includes a washer and dryer plus a private patio or balcony
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$134,063
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,681,260
$2.7M
Cap Rate 7%
$1,915,186
$1.9M
Cap Rate 9%
$1,489,589
$1.5M
Market Conditions
NOI Build-Up for 8,407 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$255.2K $30.36/SF
− Vacancy
−$11.5K −$1.37/SF
EGI
$243.8K $28.99/SF
− OpEx
−$109.7K −$13.05/SF
NOI
$134.1K $15.95/SF
Area
Coral Springs, FL
Vacancy
4.50%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,681,260
Cap Rate 7%
$1,915,186
Cap Rate 9%
$1,489,589
Alternative Uses
Best Use
Apartment 5plus
$1.92M
$1.68M – $2.23M
NOI $134,063 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$14.34M
$12.54M – $16.73M
NOI $1,003,546 @ 7.0% cap · market cap 40.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
Business Placement
Demographics for 33065, FL
59,668
Population
21,416
Households
2.8
Avg Household Size
36
Median Age
31%
College-Educated
93%
High-School Grad
8.6 sq mi
ZIP Area
6,938
Density / Sq Mi
$70,435
Median Household Income
$36,255
Median Earnings
$1,833
Median Rent
$416,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit multifamily with private patios or balconies and in-unit washer and dryer in each unit.
Where is this apartment building located?
The property is located at 10675 Royal Palm Boulevard 1-7 Coral Springs, FL.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: 7‑unit multifamily built in 1987 in Coral Springs, on nearly half an acre corner lot; Unit mix: one 3BD/2.5BA townhome, four 3BD/2BA units, and two 2BD/2BA units; Each unit includes a washer and dryer plus a private patio or balcony
